Sunset Strip > Trading Day Wrap From Blue Ocean 20170418

Mathan Somasundaram

Local market ran into a brick wall with profit taking in almost every sector as global investors jumped out ahead of currency devaluation as commodities continue to fall. Substantial number of large caps had big lines crossed after the close…always a good sign that there are big global portfolio transitions in play…turnover in the past week has been higher than pre-school holiday period…nearly double previous school holiday periods!!! Miners got smacked on commodities, Banks on currency trade and Telcos on TPM raising.

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